This revised and updated edition of The Economic Theory of Professional Team Sports elaborates on the themes of the successful first edition of this book.

This book is unique in that it offers the first truly rigorous application of economic principles to its subject. The authors analyse:* the economic literature on sporting leagues* the demand for professional team sports* the players' labour market.Amongst the topics discussed are the US system of franchising and draft picks and the chances of thei

This book provides a highly accessible introduction to the main theoretical, empirical and policy issues that emanate from the economic analysis of sport.

This work uses economic theory, simple probability, statistical concepts and game theory to analyze the economics of professional sports. It treats sports leagues as cartels and uses historical examples to test theories regarding labor economics. Many key issues that have sparked raging arguments among fans and writers are addressed, including free agency's effect on competitive balance, how rising player salaries have/haven't affected ticket prices, and the effect of a new stadium on the local economy, among many others. Instructors considering this book for use in a course may request an examination copy here.

This book is unique in offering the first truly rigorous application of economic principles to the subject of professional team sports.

The sports industry presents many unusual and interesting opportunities for the application of economic theory and econometrics. In 15 professional papers, this book addresses current economic issues in the industry, including the problem of competitive balance, the location of professional sports teams and their impact on local communities, managerial decision making, and issues related to labor markets. Extending the previous research in sports economics, the papers reflect the most recent applications of economic theory in this area. The book will be a valuable resource for professional economists working on sports economics topics. In two opening chapters on competitive balance, the contributors develop a model for college football and examine the impact of balance on attendance in major league baseball. In a section on the location of professional sports teams, the chapters then develop a model to predict the location of expansion teams, make econometric estimates of the impact of Super Bowls on the host city, and analyze the ownership of stadiums and arenas. Managerial decision making is discussed in chapters that examine alternative econometric models of production in baseball, use a production function model to analyze technological change in Major League Baseball, examine the management of team streaks, consider the competitive balance between American and National Leagues, analyze the efficiency of player trades in the National Basketball Association, and estimate the impact of participation in inter-collegiate sports on academic performance. In the final section on labor markets, the contributors estimate the impact of owner collusion on baseball players' salaries, consider the impact of the new collective bargaining agreement in Major League Baseball, analyze the impact of being a union representative, and examine the impact of the National Football League's salary cap on player's salaries.